Morgan Stanley analyst Katy Huberty raised her price target on Seagate shares to $66 from $61 as he said recent management meetings have increased her conviction about its cloud-led growth and "disruptive" potential of its upcoming products. Seagate believes its product roadmap diverges from competitors at 24TB, which will be launching late in calendar 2021, as competitor roadmaps based on MAMR technology peak out. The company sees the current hard disk drive industry market share structure shifting, which will allow for a path to 60% or greater market share based on its HAMR advantage in the future, Huberty said.